Calgary real estate prospects

[ThePenIsMightier]

Insurance is known to live dragging out claims, legit or not.

[Buster]

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It’s possible that it would have been a legitimate claim but without Buster telling us facts we can only guess… the most glaring “insurance void” situation would be having a vacant home. Which would be all the more likely with the high end market as these owners are way more likely to travel or own multiple properties

Yeah it's not my place to post details. It wasn't vacant and was a common electrical issue. Insurance companies and their customers can often have differences in opinion on what to do with an asset like this.

Money isn't a problem for the owner so no, insurance fraud would be.... Unnecessary.

[rc2002]

Neddy doesn't believe in insurance. He considers it a form of gambling.

[suntan]

I hope they're okay.

Back to being a shitposter, I take it the art room triggered a morality clause?

[89coupe]

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Yeah it's not my place to post details. It wasn't vacant and was a common electrical issue. Insurance companies and their customers can often have differences in opinion on what to do with an asset like this.

Money isn't a problem for the owner so no, insurance fraud would be.... Unnecessary.

The rumours were rampant in the neighbourhood. The builder was tight lipped.

[Buster]

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The rumours were rampant in the neighbourhood. The builder was tight lipped.

That doesn't surprise me on either point.

[Gman.45]

Why would the home being vacant disqualify the insurance? Vacant as in it's a speculative property type vacant, or vacant as in the owners were on holiday somewhere type of vacant. I can see the former, but the latter? Anyone have any idea what an "extended period" would be, as all I can find is that term repeated when googling that question, so far as a temporary vacancy relating to vacation/work/etc?

Whatever the cause/etc, shame to see a nice home like that burn, even partially.

[pheoxs]

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Why would the home being vacant disqualify the insurance? Vacant as in it's a speculative property type vacant, or vacant as in the owners were on holiday somewhere type of vacant. I can see the former, but the latter? Anyone have any idea what an "extended period" would be, as all I can find is that term repeated when googling that question, so far as a temporary vacancy relating to vacation/work/etc?

Whatever the cause/etc, shame to see a nice home like that burn, even partially.

Almost every home insurance policy has a requirement to have someone check up on the place periodically. Can’t remember the frequency but it’s either every 72 hours or every week. This is so if someone starts leaking for example it wouldn’t be months worth of damage going unnoticed.

[ThePenIsMightier]

72 hours is the rule in most cases.

[Gman.45]

Ours is 72 - not something I'd ever been concerned with as someone is always around if we aren't based on circumstances (usually), but still good to know (now). I must have missed it the first few dozen times around (not having read the fine print, or even some of the not fine print of our policy, heh).

[ThePenIsMightier]

I turn the main water shut-off anytime I'm away for >48 hr.
Because I gots no friends...
Forget alone

[89coupe]

I’m absolutely shocked at housing prices lately, watching home prices on my side of town and it’s basically impossible to find a place under a million now. Just madness.

Just for clarification, a single family home, 3+bed 3+bath.

[SJW]

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FTFY

[89coupe]

Seriously, it’s very alarming, the average income is completely priced out.

[jutes]

I'll be ready to buy/build in 2030 and all this overleveraging is getting me hard.

Sask is probably in the same boat.

[msommers]

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Seriously, it’s very alarming, the average income is completely priced out.

Living in Calgary is pretty alarming if you don't already own a home.

The rental market is in a frenzy, as are home buyers.

Let the easy commiss keep rollin' in.

[haggis88]

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Living in Canada is pretty alarming if you don't already own a home.

The rental market is in a frenzy, as are home buyers.

Let the easy commiss keep rollin' in.

Yup

I keep dropping hints to the wife that we need to go down south

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Seriously, it’s very alarming, the average income is completely priced out.

What is average income in Calgary?

I know the average beyond income is 3,000,000 but how does that compare to the real life? or is this just fantasy? Caught in a landslide...

[ExtraSlow]

haven't seen this updated for 2023, but isn't calgary still one of the more affordable major cities in Canada on an income / house price basis?

I'm sure it's gotten worse than a few years ago. I blame cactus club.

[XylathaneGTR]

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What is average income in Calgary?
I know the average beyond income is 3,000,000 but how does that compare to the real life? or is this just fantasy? Caught in a landslide...

No escape from reality.

Without doing any research whatsoever and going solely from memory - Isn't the median household still something like 80-90k, but isn't that also complete bullshit as there are a lot of professionals making 100-150+ (including skilled trades - and don't forget Coupe's clientele of Jr. VPs at 500k pre-bonus), and a lot of workers earning 50k and less, so the median isn't actually very representative of the population. You're either doing fine to okayish if you're in that upper bracket, or completely fucked and struggling to stay alive if you're not; there is no in-between.

[89coupe]

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Yup

I keep dropping hints to the wife that we need to go down south

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What is average income in Calgary?

I know the average beyond income is 3,000,000 but how does that compare to the real life? or is this just fantasy? Caught in a landslide...

Average Canadian Household Income for 2023 - hasn’t been updated.
The average annual salary in Canada in 2021 was $59,300. That number if divided by 12 brings the average monthly salary to $4,942